Piper Sandler Lowers Bentley Systems (NASDAQ:BSY) Price Target to $42.00

Bentley Systems (NASDAQ:BSY) had its target price lowered by equities research analysts at Piper Sandler from $45.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 14.91% from the company’s current price.

Several other equities analysts have also commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, January 21st. Rosenblatt Securities cut their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Royal Bank Of Canada reduced their target price on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Oppenheimer dropped their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.33.

Bentley Systems Stock Down 1.3%

Shares of Bentley Systems stock opened at $36.55 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. The firm has a market cap of $10.65 billion, a P/E ratio of 42.50, a P/E/G ratio of 2.62 and a beta of 1.18. Bentley Systems has a fifty-two week low of $30.97 and a fifty-two week high of $59.25. The business has a 50-day moving average price of $36.70 and a 200 day moving average price of $44.61.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The firm had revenue of $391.58 million for the quarter, compared to analysts’ expectations of $381.79 million. During the same period last year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Bentley Systems

Several large investors have recently modified their holdings of BSY. Allworth Financial LP grew its position in shares of Bentley Systems by 37.6% in the second quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after purchasing an additional 192 shares during the last quarter. Thrive Wealth Management LLC raised its stake in shares of Bentley Systems by 2.5% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock valued at $427,000 after buying an additional 200 shares in the last quarter. Genesis Private Wealth LLC raised its holdings in shares of Bentley Systems by 5.4% in the 3rd quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock worth $204,000 after buying an additional 204 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of Bentley Systems by 4.8% during the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after acquiring an additional 246 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Bentley Systems by 2.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock valued at $589,000 after buying an additional 247 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.